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Cristina M. Paneque

Private Messaging Costs Big Banks almost $2 Billion in Penalties

Posted by Cristina M. Paneque on 11/07/2022

Several Wall Street banks were financially penalized earlier this month for the use of private messaging and encrypted chats by their employees. The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission settled with units of Bank of America, Goldman Sachs, Nomura and eight other financial services giants with ...

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Annabel Stanley

The Rise in Age Discrimination Law Suits in America

Posted by Annabel Stanley on 10/31/2022

The Age Discrimination in Employment Act (ADEA) prohibits employment discrimination against individuals 40 years or older. To prove age discrimination, an employee must establish that (1) he or she is in the protected age class; (2) he or she was subjected to an adverse employment action; (3) he or she was qualified for the job; and (4) a ...

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Alex Hartzband

Despite Relatively Few Employment Law Cases on the Docket, the U.S. Supreme Court’s Upcoming Term Could Have Major Implications in the Workplace

Posted by Alex Hartzband on 10/28/2022

In recent years, the U.S. Supreme Court's docket has seemingly been jam-packed with employment law cases of massive consequence each and every term. The upcoming term, however, is uncharacteristically light in this regard. Nevertheless, it is highlighted by several disputes that could have massive implications in employment law—some dealing ...

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Thomas T. Papain

Boeing and Former CEO Settle with SEC for $201 Million Over Charges of Misleading Investors about Safety of 737 MAX Aircraft that Killed 346 People

Posted by Thomas T. Papain on 10/25/2022

Last month, the Securities and Exchange Commission ("SEC") issued a Cease-and-Desist Order against Boeing Co. (NYSE: BA) and its former CEO, Dennis A. Muilenburg, both of whom agreed to pay civil money penalties to the SEC in the amounts of $200 million and $1 million, respectively, regarding the SEC's charges that Boeing and Muilenburg misled ...

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Dylan B. Weeks


Posted by Dylan B. Weeks on 10/14/2022

On September 1, 2022, the Securities and Exchange Commission ("SEC") called for public comments on a proposal to create a 24-hour securities exchange. Currently, no securities exchange registered with the SEC allow investors to trade between 8:00 p.m. and 4:00 a.m. Eastern time. The proposal comes from 24X National Exchange LLC ("24X"), which ...

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Camilo Burr

New Jersey to Ban Non-Disparagement Language in Employment Related Settlement Agreements

Posted by Camilo Burr on 10/13/2022

On September 30, 2022, the New Jersey Assembly took a step toward allowing employees who endured discrimination, retaliation, or harassment at the workplace to speak about their experiences on the job. Specifically, New Jersey lawmakers advanced a bill barring settlement agreements in employment related cases from including language that require ...

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Cristina M. Paneque

NY Dept. of Financial Services’ first enforcement action against a crypto company, and what it means for crypto trading

Posted by Cristina M. Paneque on 10/12/2022

On August 2, the New York Department of Financial Services issued a $30 million consent order against Robinhood Crypto LLC, a wholly owned subsidiary of Robinhood Markets Inc., which offers cryptocurrency trading. DFS' order states that Robinhood failed to maintain a compliant anti-money laundering program, an appropriate transaction monitoring ...

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Zachary Crane

Regulations May Be Coming For Cryptocurrency ‘Staking’

Posted by Zachary Crane on 10/04/2022

John Wu, the President of Ava labs, believes that securities regulations for cryptocurrencies utilizing "staking" could be coming in the future. This comes on the heels of Securities and Exchange Commission Gary Gensler signaling that the recent Ethereum "Merge" could lead to securities regulation.[1] [1] Lydia Beyoud, SEC Chair Gensler Raises ...

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Katherine M. Lenahan

SEC Seeks To Obtain Penalties Greater Than A Defendants’ Gain

Posted by Katherine M. Lenahan on 10/03/2022

The U.S. Securities and Exchange Commission ("SEC") is seeking a ruling in the Ninth Circuit Court of Appeals upholding a fine larger than what a defendant individually gained from an allegedly illegal scheme. According to Bloomberg Law, the SEC obtained a ruling in SEC v. Imran Husain, et al., No. 16-cv-03250 (C.D. Cal.), that imposed "a ...

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Annabel Stanley

Garden Leave Slowly Gains Traction in the United States

Posted by Annabel Stanley on 09/26/2022

A non-compete agreement is an agreement or clause in a contract specifying that an employee must not work for a competitor or enter into business in competition with the employer during or after employment. Non-competes are used to protect company trade secrets and client relationships. Eleven states in the United States ban non-competes for ...

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